L.I. Man May Have Killed Family Over Financial Fraud

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Photo: nypost.com

On Sunday, while staying at a Baltimore hotel during a visit to Loyola College, where his daughter went to school, William Parente of Garden City killed his wife and 11-year-old daughter. When his college-age daughter arrived at the hotel room later that day, Parente took her life as well, and then on Monday morning, his own. Now investigators believe Parente's breakdown might have something to do with the unraveling of his own financial scheme.

Lawyer Bruce Montague had invested $450,000 with Parente, but after the whole Bernie Madoff affair hit, Montague wanted his investment back. Parente complied, but his checks bounced, and that's when Montague wrote a complaint to attorney general Andrew Cuomo. An associate at Montague's law firm believes Parente may have handled up to $20 million in other investments, meaning Montague was just the tip of the iceberg. In a statement, Montague said, "All monies involved were private money that can be replaced. What Mr. Parente did to his family is a great tragedy and unforgivable."

Legal Problems May Be Behind Man’s Slaying of Family [NYT]
FAMILY SLAY WAS 'PONZI' MASSACRE [NYP]